On October 26th, Yuga Labs, the company behind the popular NFT collection Bored Ape Yacht Club (BAYC), announced its victory in a copyright infringement lawsuit related to Bored Apes that had been ongoing since June 2022.
According to the court ruling, two individuals responsible for trademark violations, Ryder Ripps and Jeremy Cahen, will have to cease their infringing activities, pay a $1.6 million settlement, and transfer various web domains to Yuga Labs.
Ryder Ripps and Jeremy Cahen had created an NFT collection called RR/BAYC, which notably featured images similar to those in the official Bored Ape Yacht Club (BAYC) collection.
During the lawsuit, Ryder Ripps claimed that the legal action was an attack on his freedom of speech, and he initially stated that he would settle the case for no less than $10 billion. However, in the end, Ryder Ripps lost the lawsuit.
Despite the court’s verdict and penalties, the RR/BAYC collection continues to circulate. It’s unclear whether NFT marketplace platforms have delisted it or continue to support its trading.